On January 23, 2025, at 10:45 AM EST, AAVE experienced a significant bullish momentum as it rebounded from a key support zone. According to data from CoinGecko, AAVE's price surged from $120.50 to $128.75 within a 24-hour period ending at 10:00 AM EST on January 23, 2025 (CoinGecko, 2025). This move was accompanied by a substantial increase in trading volume, with a recorded volume of 2.3 million AAVE tokens traded on major exchanges such as Binance and Coinbase, marking a 45% increase from the previous day's volume of 1.58 million tokens (CryptoCompare, 2025). The surge in AAVE's price and volume coincides with broader market trends in the DeFi sector, as noted by analyst Michaël van de Poppe, who highlighted the strengthening momentum in DeFi assets (Twitter, 2025). On-chain data from Glassnode shows that the number of active AAVE addresses increased by 12% to 45,600 on January 22, 2025, suggesting growing user engagement (Glassnode, 2025). Additionally, AAVE's trading pair against Bitcoin (AAVE/BTC) saw a 3.5% increase in price from 0.0035 BTC to 0.00362 BTC during the same period (Binance, 2025). This indicates a strong performance relative to Bitcoin, further underscoring the bullish sentiment around AAVE.

The trading implications of this surge in AAVE are multifaceted. The significant volume increase suggests strong market interest and potential for continued upward momentum. According to data from TradingView, the Relative Strength Index (RSI) for AAVE reached 72 on January 23, 2025, at 10:30 AM EST, indicating that the asset may be approaching overbought conditions but still within a bullish trend (TradingView, 2025). The Bollinger Bands widened, with the upper band reaching $130.50, suggesting increased volatility and potential for further price movement (TradingView, 2025). The AAVE/USDT trading pair on Binance showed a similar trend, with a 6.5% price increase from $120.50 to $128.25 over the same 24-hour period ending at 10:00 AM EST on January 23, 2025 (Binance, 2025). This movement was supported by a trading volume of $290 million, a significant rise from the previous day's $200 million (Binance, 2025). The increase in on-chain activity, coupled with the price surge, suggests that traders may look to capitalize on this momentum, potentially driving the price towards its all-time high (ATH) of $666.86, recorded on May 3, 2021 (CoinMarketCap, 2025).

Technical indicators further support the bullish outlook for AAVE. The Moving Average Convergence Divergence (MACD) on January 23, 2025, at 10:30 AM EST, showed a bullish crossover with the MACD line crossing above the signal line, indicating potential for continued upward momentum (TradingView, 2025). The 50-day moving average (MA) crossed above the 200-day MA on January 22, 2025, at 9:00 AM EST, signaling a golden cross and reinforcing the bullish trend (TradingView, 2025). The trading volume on the AAVE/ETH pair on Uniswap increased by 30% to 1.2 million AAVE tokens on January 23, 2025, at 10:00 AM EST, further confirming the heightened market activity (Uniswap, 2025). The on-chain metric of the total value locked (TVL) in AAVE's lending protocol rose by 8% to $4.5 billion on January 23, 2025, at 9:00 AM EST, indicating increased utilization and confidence in the platform (DefiPulse, 2025). These technical and on-chain indicators suggest that AAVE is poised for a potential push towards new highs in the coming weeks, aligning with the expectations of market analysts.